Sunday, January 24, 2010

French Finance Minister: Obama Bank Reforms Reflect Our Position

Sunday, January 24, 2010
French Finance Minister: Obama Bank Reforms Reflect Our Position
By David Pearson
Dow Jones Newswires

PARIS -(Dow Jones)- U.S. President Barack Obama's plan to reform the U.S. banking sector reflects France's position on the matter, French Finance Minister Christine Lagarde said Sunday.

Obama's plan, outlined last week to limit the size and concentration of banks and limit their ability to leverage their operations, "corresponds completely to the positions that France has upheld," within the Group of 20 industrialized and developing nations, Lagarde said in an interview with television channel France 2.

"The shift in [the U.S. administration's] stance is impressive," Lagarde said.

http://www.foxbusiness.com/story/market ... usiness%29